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Category Archive for: "MoneyBlog"

In latest data provided by the Financial Conduct Authority, it has been revealed that there has been a sharp increase in the number of borrowers in the UK taking out payday and other kinds of short-term loans in the last year. It is estimated a staggering 5.4 million loans for people with bad credit were taken out in the year up to June 2018. Comparatively, this is a huge jump when taking account of the statistics for the year previously. The huge increase in payday loan borrowing In 2017, it was estimated that just 4.6 million was taken out for […]

It has been revealed that the annual consumer borrowing growth rate has ground to a four-year halt, with annual consumer credit growth ending up slowing to 6.6% in December. The statistics, officially revealed by the Bank of England in late January, are in line with other forms of consumer credit growth that has been falling, as more and more households across the country reduce their levels of borrowing for things such as car finance, payday loans for bad credit, personal loans and credit cards. A reduction in Christmas spending. It also reflects a reduction in consumer spending during the festive period, […]

It is fair to say that most of us are aware that the last month of the year, December, ends up costing many of us a considerable amount of money. With so many costs to consider in the run-up to Christmas (as well as preparing for New Year’s too…): buying presents for loved ones, food for the multiple dinners and parties during the festive season, transport costs to see friends and family near and far, many of us end up struggling finance wise. Taking this into account, why do experts still consider January to be the month that people struggle […]

It has only been a few days since Theresa May received the biggest veto in democratic history regarding her withdrawal agreement for the UK to exit the European Union, meaning the UK government and opposition are going back to the drawing table for further discussions regarding Britain’s future, and whether or not Article 50 should be extended or not. At this moment in time, there are a number of potential outcomes, and this includes a no-deal Brexit, especially after the Brexit package was voted down. If this ends up taking place, what could that potentially mean for your savings? We […]

Christmas is a time of year where most of us Brits get spending big time. Some of us even spend way beyond our means only to have to deal with the consequences later by paying off a hefty credit card bill or paying back a payday loan – this is not advisable. Doing so could leave you in high levels of debt and it is simply not worth it for that extra big turkey or those few extra presents which were out of your budget. It is common that people do not just spend a ton of money leading up […]

It may be of interest to know that religions have differing opinions on the subject of lending money. The differing of opinions does not come into play until the subject of interest is brought up, for in no religion is lending money frowned upon, but in some, placing interest on the loan is prohibited. We are going to be looking further into this concept in this guide. Although the debate appears to be rather ancient, it is still ongoing in some capacity today in a variety of areas, which we will detail here. Religious Background Typically speaking usury, defined as […]

Subject to status means that your loan application will be subject to credit rating and income to be approved. Therefore, you will need a certain credit score and minimum income to be eligible for a loan. If you have ever applied for credit, you will be very familiar with the three words ‘subject to status’. But what does it actually mean? Alongside the usual marketing jargon, in regard to the features and benefits of credit products, the phrase “subject to status” can often seem out of place. Nonetheless, it appears that one every application page and is actually required by […]

Personal loans are one of the most sought loans on the market for a number of reasons. They are lent out to people who can prove to the lender that they are very capable of repaying the loans. People who have bad credit often cannot get a personal loan without a struggle. In the majority of cases, lenders will require an applicant to have a salary or at least some form of stable income. The lender will also, like with any other type of loan, check your credit history. If yours is not in the best shape and you do […]

Amigo loans have recently expressed that they have essentially been financially benefitting from the collapse of Wonga after they were forced in administration, following a clampdown on payday lenders. This has been stated by the chief executive of Amigo loans in the last month or so. Amigo lends up to £10,000 to those who have bad credit histories, provided that the payments can be guaranteed by friends or family. Essentially, they are guarantor loans. The business has claimed that now their pre-tax profits jumped to 66pc after an increase in customer numbers. Why did Wonga collapse? In late August 2018, […]

Christmas is but a month away and you have likely already got a budget in place and/or have started making purchases for food and gifts. The last thing you want to see in January is a credit card bill which is going to knock you back due to the amount you have unknowingly spent, so it is best to have a budget in mind or even a separate savings account specially for Christmas. If you have already got a budget in place, great! But how can it go further? If you have not yet got a budget, do not worry […]

PAYDAY LOANS FOR BAD CREDIT

Payday Bad Credit is a trading style of Western Circle Limited – Company Registration Number: 7581337.
We are fully authorised and regulated by The Financial Conduct Authority.FCA full permission license: 714479
ICO Registration Number: Z3305234

Payday Bad Credit terms and conditions apply. Applicants must be 23 or over.
All loans are subject to affordability, applicant verification and traditional credit checks via various national
databases by Payday Bad Credit responsible lending policy.
Loan limit maximum of £500 for first-time customers (£1,100 for existing).
In most cases, loan decisions may take up to 30 minutes during office working hours.
If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 16:30.